DJIA – Dow Industrial Average (Last:15376)

I’ve used a Dow chart to get an idea of how much pain may be visited on bears before this silly, Whirled Peas rally sevens out.  The immediate answer is: 120 points.  However, if the 15312 midpoint pivot that corresponds to that number gets demolished, we should brace for more upside to at least 15864. That would be congruent with some of the fanciful numbers I’ve projected for rallies in Amazon, Tesla, Google and a few others.  I mention this so that those who have bought puts in DIA as I advised don’t have illusions about making a big score. _______ UPDATE (September 12, 12:16 a.m. EDT): Yesterday’s 135-point rally exceeded my 15312 benchmark by 14 points — probably not sufficient to clinch a bull rampage to 15864.  Before we throw in the towel on sanity, let’s stipulate that the Dow must close above the lower number for two consecutive weekly bars, or trade more than 50 points above it intraday, before we infer that bulls are hellbent on 15864. _______ UPDATE (September 16, 1:36 a.m. EDT): With Sunday night’s Yellen-related hysteria, it looks as though the Dow will be halfway to the 15864 target before the day is over.